Israel to allocate some $43.2 million over five years to foster startups and entrepreneurs in medical cannabis in Yerucham, as part of push to boost tech in nation’s periphery
The report goes on to say
Israel will set up a medical cannabis incubator in the city of Yerucham, located in the south of Israel, and will allocate the initiative an estimated 150 million shekels ($43.2 million) in the coming five years, the winners of a government tender to run the incubator said.
The incubator will be run by Jerusalem based VC-fund OurCrowd, pharmaceutical maker Perrigo Co., and BOL Pharma, an Israeli medical cannabis firm. The Israel Innovation Authority and the member companies of the consortium will both invest funds in the operation of the incubator, to support the development of startup companies and to follow up on investments.